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With project deadlines getting pushed and the underlying value of the property not rising, the real estate sector is seeing higher levels of refinancing with private equity funds and non-banking financial companies (NBFCs) taking over the loans granted by banks at higher interest rates.

Mumbai-based developer Sheth Corp secured Rs 180 Crore in long term debt funding from Altico Capital. The money will be utilised predominantly for the construction of a residential project “Project Zuri” with a potential of 0.6 million sq ft in Thane.

Vatika Hotels Pvt. Ltd, owned by real estate and hospitality firm Vatika Group, has raised Rs495 crore in debt from Axis Bank Ltd, which it will use to expand its hotels and quick-service restaurant chain besides its business centres, a top company executive said.

Altico Capital has invested Rs 400 crore in two separate projects of Pune-based Pharande Projects and Noida-based Panchsheel Buildtech. Both the projects with a total 7.5 million sq ft saleable area are currently at an advanced stage of construction.

The project is spread across 66 acres with a residential development potential of approx. 6.5 million sq ft. Altico’s contribution of Rs 315 crores will be used to refinance existing debt and towards project expenses. KKR has provided additional capital of Rs 120 crores for construction, augmenting its existing facility of Rs 95 crores.

The project backed by Altico Capital is being jointly developed by Rajesh Lifespaces and Suvidha group, and comprises of three and four bedroom apartments with a total saleable area of around 100,000 sq.ft

In one of the largest financing in the residential real estate space in the recent past, Mumbai based developer Nirmal Group raised Rs 500cr from Altico Capital for 3 residential projects located in the suburban areas of Mumbai, Mulund.

Altico Capital, sponsored by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has invested Rs 300 crore in a residential project in Pune, which is being developed by Kumar Urban (KUL).

Altico Capital has closed a Rs 300 cr transaction with Pune based Kumar Urban Ltd (KUL) for a residential township named 'KUL Ecoloch', located near Hinjewadi, Pune. The funding proceeds shall be utilized towards refinancing the existing lenders and construction of the township.

Private equity firm IPAL Fund Managers, which has a strategic partnership with Centrum Wealth Management, is planning to launch its second Mumbai-focused real estate fund, and will raise Rs.350 crore from domestic investors, said a top executive.

Altico Capital, the non-banking finance company backed by Clearwater Capital Partners, has invested Rs. 200 crore in Bengaluru-based real estate developer Legacy Group. The investment has been made under a multi-project financing agreement.

Mumbai-headquartered non-banking finance company Altico Capital India has received board approval to raise ₹2,000 crore through a mix of instruments. The company will raise the funds through bank lines, and issue of commercial papers and non-convertible debentures (NCDs).

Non-banking financial company (NBFC) Altico Capital on Wednesday said it had invested Rs 575 crore across three real estate projects in Mumbai, Pune and Bengaluru. The NBFC is backed by Clearwater Capital Partners, Varde Partners and Abu Dhabi Investment Council.

Altico Capital India Pvt. Ltd, the non-banking financial company of Asia-focused investor Clearwater Capital Partners LLC, has invested about ` 575 crore across three projects in Mumbai, Pune and Bengaluru, the company said on Wednesday.

Non-banking finance company Altico Capital has put in Rs 575 crore in three structured debt transactions with builders in Mumbai, Pune and Bengaluru . The builders will use the money to refinance existing lenders as well as finish projects that are at an advanced stage of completion.

Non-banking finance company (NBFC) Altico Capital today announced the appointment of Sanjay Grewal as its Chief Executive Officer.
In his new role, Grewal will be responsible for developing and executing the vision and strategy of the organisation and business in India, the company said in a release issued here.

Altico Capital, the rebranded non-banking finance company (NBFC) of Clearwater Capital Partners, has named former IDFC Bank senior executive Sanjay Grewal as its new chief executive, NBFC announced on Thursday.

Non-banking finance company (NBFC) Altico Capital today announced the appointment of Sanjay Grewal as its Chief Executive Officer. In his new role, Grewal will be responsible for developing and executing the vision and strategy of the organisation ...

Altico Capital India Pvt. Ltd, the non-banking financial company (NBFC) of Asia-focused investor Clearwater Capital Partners LLC, plans to invest about $370 million this year in India’s real-estate projects. The company has already invested in 11 deals in the current financial year, during which growth in the real-estate sector was sluggish compared with the rate in the last five years. However, demand for affordable housing, that is apartments in the range of Rs 25-40 lakh, is growing across India.

Altico Capital, a non-banking finance company (NBFC) promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, is looking to invest about Rs 2,500 crore every year for the next five years in the Indian real estate market.

Bengaluru-based Manyata Promoters , one of the biggest land owners in the city, is raising Rs 750 crore from ECL Finance, the non-bank Finance arm of Edelweiss Group, three people aware of the deal said.